The CAMbens Account

Account name

The CAMbens Account (University of Cambridge staff only)

What is the interest rate?

Your interest will be paid annually, on the 31st December.

We calculate the interest on the balance of your account at the end of each day.

You earn interest from the day your funds are paid into your account, until the day before you withdraw your funds.

Can The Cambridge change the interest rate?

Interest rates are variable, that means we may change interest rates at any time if we reasonably believe that the change is needed.

See the ‘interest’ section of Terms and Conditions for full details.

What would the estimated balance be after 12 months with a £1,000 deposit?

The following projection assumes the account is opened on 1st January and no further deposits or withdrawals are made. Projections are for illustrative purposes only and do not take into account individual circumstances.

How do I open and manage my account?

Opening the account:

• exclusively available to staff members of the University of Cambridge
• the minimum amount required to open the account is £1
• invest between £1 and £2,000,000
• the overall maximum holding by any one person in respect of all accounts with The Cambridge is £2,000,000

Manage the account:

• manage your account in branch, by phone or via post
• you can pay in cash and cheques and make debit card payments at any of our branches or you can transfer funds from an existing Cambridge Building Society account
• you can view and amend your details online or via The Cambridge money app. Once registered you can also use our online services to manage your account

Can I withdraw money?

You can withdraw cleared funds from your account at any time without giving notice or paying a fee. Our normal branch limits for withdrawals are £500 in cash and up to £250,000 by cheque. Larger cheque withdrawals are available upon request. We require at least four working days before cheques paid into your account can be drawn against.

Additional information

No tax will be automatically deducted from the interest paid on this account.

You may need to pay tax on any interest that exceeds your Personal Savings Allowance. For more information please contact HMRC.

Tax treatment and rate of interest payable will depend on individual circumstances and may change in the future.